According to Eleanor Terrett, Senate Banking Republicans, led by Senator Thom Tillis, urged Patrick Witt to release a White House Council of Economic Advisers study. This study reportedly examines the implications of stablecoin yields on deposit flight and bank lending, highlighting potential impacts on the traditional banking sector.

According to @iampaulgrewal, denying stablecoin users the ability to earn rewards like other asset holders is irrational, signaling explicit support for allowing rewards on stablecoin balances, source: https://twitter.com/iampaulgrewal/status/2012296668964864160. He states that references to deposit flight are bank lobbyist language for competition, highlighting a pro-competition framing of stablecoin reward programs, source: https://twitter.com/iampaulgrewal/status/2012296668964864160. For traders, this stance spotlights the policy narrative around stablecoin rewards and competition with bank deposits as a factor to monitor when assessing platforms that may offer or restrict reward features on stablecoin balances, source: https://twitter.com/iampaulgrewal/status/2012296668964864160.